MURPHY OIL CORP

Listed Company

MURCIK 0000717423NYSELarge AcceleratedCrude Petroleum & Natural GasDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.72B

Net Income

$104.23M

Total Assets

$9.83B

Equity

$5.12B

Shares Out

142.83M

Op. Cash Flow

$1.25B

Business

MURPHY OIL CORP is a global oil and natural gas exploration and production company operating both onshore and offshore. The company produces crude oil, condensate, natural gas and natural gas liquids and provides related exploration, development and production services. Its operations are organized into exploration and production segments for the United States, Canada and all other countries, with a Corporate segment handling finance, risk management and administrative functions. Murphy distributes production through field operations and partnerships across the Gulf of Mexico, South Texas, Canada and selected international basins including Brazil, Brunei, Vietnam and Côte d’Ivoire.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue from sales to customers	2,690	3,019	3,449	4,220	2,801
Gain (loss) on derivative instruments	6	−2	0	−320	−526
Gain on sale of assets and other operating income	23	12	11	33	24
Total revenues and other income	2,719	3,028	3,460	3,933	2,299
Lease operating expenses	765	937	784	679	540
Severance and ad valorem taxes	39	39	43	57	41
Transportation, gathering and processing	200	211	233	213	187
Costs of purchased natural gas	0	3	52	172	0
Exploration expenses, including undeveloped lease amortization	112	134	235	133	69
Selling and general expenses	137	110	117	131	122
Depreciation, depletion and amortization	978	866	862	777	795
Accretion of asset retirement obligations	58	53	46	46	47
Impairment of assets	115	63	0	0	—
Other operating expense	14	11	47	138	21
Total costs and expenses	2,418	2,426	2,418	2,346	2,018
Operating income from continuing operations	301	603	1,042	1,587	281
Other income (loss)	−22	71	−9	14	−17
Interest expense, net	−96	−106	−112	−151	—
Total other loss	−118	−35	−121	−136	−239
Income from continuing operations before income taxes	183	568	921	1,450	43
Income tax expense	45	78	196	309	−6
Income from continuing operations	138	489	725	1,141	49
Income (loss) from discontinued operations, net of income taxes	485,000	−3	−1	−2	−1
Net income including noncontrolling interest	139	487	724	1,139	48
Less: Net income attributable to noncontrolling interest	35	79	62	174	121
NET INCOME ATTRIBUTABLE TO MURPHY	104	407	662	965	−74
Continuing operations (in USD per share)	0.73	2.73	4.27	6.23	−0.47
Discontinued operations (in USD per share)	0	−0.02	−0.01	−0.01	−0.01
Net income (in USD per share)	0.73	2.71	4.26	6.22	−0.48
Continuing operations (in USD per share)	0.72	2.72	4.23	6.14	−0.47
Discontinued operations (in USD per share)	0	−0.02	−0.01	−0.01	−0.01
Net income (in USD per share)	0.72	2.7	4.22	6.13	−0.48
Cash dividends per Common share (in USD per share)	1.3	1.2	1.1	0.83	0.5
Basic (in shares)	143	150	155	155	154
Diluted (in shares)	144	151	157	157	154

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	377	424	317	492	521
Accounts receivable, net	347	273	344	391	258
Inventories	57	55	54	55	54
Prepaid expenses	35	34	37	35	32
Total current assets	817	785	752	972	881
Property, plant and equipment, at cost less accumulated depreciation, depletion and amortization of $15,068,149 in 2025 and $13,811,539 in 2024	8,136	8,055	8,225	8,228	—
Operating lease assets	805	778	745	946	881
Deferred charges and other assets	74	50	44	44	29
Total assets	9,833	9,668	9,767	10,309	10,305
Current maturities of long-term debt, finance lease	3	871,000	723,000	687,000	654,000
Accounts payable	572	472	447	544	623
Income taxes payable	18	19	21	27	20
Other taxes payable	28	32	29	23	20
Operating lease liabilities	279	253	208	220	139
Other accrued liabilities	121	118	130	444	361
Current asset retirement obligations	42	48	11	—	—
Total current liabilities	1,063	943	847	1,258	1,164
Long-term debt, including finance lease obligation	1,383	1,275	1,328	1,822	2,465
Asset retirement obligations	971	961	904	817	840
Deferred credits and other liabilities	264	274	310	305	571
Non-current operating lease liabilities	538	537	552	743	761
Deferred income taxes	378	336	277	215	183
Total liabilities	4,596	4,326	4,217	5,160	5,984
Cumulative Preferred Stock, par $100, authorized 400,000 shares, none issued	0	0	0	0	0
Common Stock, par $1.00, authorized 450,000,000 shares, issued 195,100,628 shares at December 31, 2025 and 195,100,628 shares at December 31, 2024	195	195	195	195	195
Capital in excess of par value	860	849	880	894	927
Retained earnings	6,691	6,773	6,546	6,055	5,219
Accumulated other comprehensive loss	−554	−628	−521	−535	−528
Treasury stock	−2,073	−1,995	−1,738	−1,615	—
Murphy Shareholders' Equity	5,118	5,194	5,363	4,995	4,157
Noncontrolling interest	118	148	187	154	163
Total equity	5,237	5,342	5,550	5,149	4,321
Total liabilities and equity	9,833	9,667	9,767	10,309	10,305

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Unsuccessful exploration well costs and previously suspended exploration costs	30	73	170	82	17
Deferred income tax expense	35	72	180	286	−4
Long-term non-cash compensation	45	45	62	89	63
Amortization of undeveloped leases	12	10	11	13	19
Unrealized (gain) loss on derivative instruments	−2	2	0	−215	112
Contingent consideration payment	0	0	−140	0	—
Unrealized loss on contingent consideration	0	0	7	78	63
Other operating activities, net	−87	−18	−75	−34	−54
Net decrease (increase) in non-cash working capital	−74	75	−99	−66	118
Net cash provided by continuing operations activities	1,248	1,729	1,749	2,180	1,422
Property additions and dry hole costs	−1,021	−900	−1,066	−985	−650
Acquisition of oil and natural gas properties	−29	−8	−36	−129	−20
Proceeds from sales of property, plant and equipment	21	0	103	5	271
Net cash required by investing activities	−1,029	−908	−999	−1,109	−418
Retirement of debt	0	−650	−498	−648	−876
Early redemption of debt cost	0	−16	0	−8	−39
Debt issuance	0	600	0	0	—
Debt issuance cost	0	−10	0	0	0
Borrowings on revolving credit facility	550	350	600	400	165
Repayment of revolving credit facility	−450	−350	−600	−400	−365
Issue costs of revolving credit facility	−418,000	−15	−20,000	−14	—
Repurchase of common stock	−103	−301	−150	0	0
Cash dividends paid	−186	−180	−171	−128	−77
Distributions to noncontrolling interest	−64	−119	−29	−183	−138
Withholding tax on stock-based incentive awards	−10	−25	−14	−18	−5
Finance lease obligation payments	−1	−665,000	−622,000	−636,000	−803,000
Contingent consideration payment	0	0	−60	−82	0
Net cash required by financing activities	−264	−717	−924	−1,082	−795
Effect of exchange rate changes on cash and cash equivalents	−1	2	−1	−4	638,000
Net increase (decrease) in cash and cash equivalents	−46	106	−175	−29	211

Filings

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